Broadlands Beauty!

4410 Lexi Circle Broomfield, CO is a gorgeous 4 bedroom, 3.5 bath updated home in The Broadlands. Main floor= formal living and dining, family room, laundry and fully upgraded kitchen (Quartz countertops and island, soft close cabinets, stainless) with breakfast nook. Upper level includes master with bonus sitting area and 5 piece bath, along with 2 additional bedrooms and a full bath. Fully finished basement offers versatile space including a 4th bedroom, 3/4 bath, flexible space currently used for art room and workout room, as well as a rec room with custom painted copper ceilings and wet bar for entertaining. Beautifully maintained, fully fenced backyard with tiered patio and mature trees providing privacy. Contact Karen Catt at (970) 699-2857 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/132206384

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Drastically Different

Recently it seems there are many attempted comparisons being made between today’s real estate market and the 2006-2007 market.

It seems that people fear a repeat of what happened to the market in 2008 and 2009.

Buyers, understandably, want to make smart decisions and don’t want to buy in advance of any downturn.

The reality is this.  There are some similarities between now and the pre-bubble market of 15 years ago.  Namely, prices are appreciating quickly.

However, there is one massive difference.

The inventory of homes for sale right now is drastically different than 15 years ago.

The rules of economics tell us that, in order for prices to crash, demand needs to diminish, supply needs to swell, or some combination of the two.

Here’s the deal.  Supply today is a fraction of what is was 15 years ago.

Homes for sale today:

  • Larimer County = 238
  • Weld County = 226
  • Metro Denver = 2,594

Homes for sale 15 years ago:

  • Larimer County = 2,998
  • Weld County = 1,113
  • Metro Denver = 29,045

The reason why prices flattened and decreased slightly along the Front Range in 2009 is because the National economy had a meltdown and there was a glut of supply.

We do not have anything similar to those same dynamics today.

We are watching the market closely every single day.  While we don’t expect the current pace of appreciation to keep up, we believe inventory levels keep us insulated from any kind of crash.

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West Fort Collins Charmer!

Welcome to this conveniently located single family, West Fort Collins home. 2802 Laporte Ave allows for easy access to schools, City Park, CSU, downtown Fort Collins, the foothills with hiking and biking trails, and so much more! Room for your RV, boat and toys. No HOA, outside city limits! Warm and inviting original owner, south facing home features four bedrooms w/ceiling fans, two bathrooms, wood floors, newer carpet and central air conditioning. Updated bright, spacious kitchen with heated tile flooring flows into large dining room and opens to screened in sunroom and large back yard. Plenty of room to entertain in the large family room with wood burning fireplace and the large formal living room with loads of natural light. Updates throughout include New Champion windows 2018, New hot water heater 2020, Kitchen remodel 2015, bathroom remodels in 2018 and 2021 and new carpet 2019. Taxes reflect a senior discount. Contact Kelly Swift at (970) 310-4876 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/132142476

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Berthoud Jewel!

748 Mountain Ave is a one-of-a-kind Berthoud jewel built in 1916 has been renovated while still showcase much of the original woodwork including many built-ins, stunning hearth, buffet in dining room. The first banker in town, Mr. Bein, had John Bell build this high-quality house sparing no expense. You will find hardwood flooring throughout the home including the 5 bedrooms upstairs, with oversized hallways. The main floor large living room & formal dining room are perfect for entertaining. The sunroom off the formal dining room is a warm, inviting place for quiet time. Within the updated kitchen you will find quartz countertops with a pot filler, new tile backsplash, quartz countertop and refinished original maple flooring. Step down into the lower level basement and you will find a SECOND KITCHEN AREA, theater room, large laundry room with full bath. Also lots of storage! Park-like setting back yard! Huge Corner lot w/ 4 additional off-street parking spots in addition to a large RV parking pad. Contact Alexis Foster at (970) 310-6999 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/131743492

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Berthoud Jewel!

748 Mountain Ave is a one-of-a-kind Berthoud jewel built in 1916 has been renovated while still showcase much of the original woodwork including many built-ins, stunning hearth, buffet in dining room. The first banker in town, Mr. Bein, had John Bell build this high-quality house sparing no expense. You will find hardwood flooring throughout the home including the 5 bedrooms upstairs, with oversized hallways. The main floor large living room & formal dining room are perfect for entertaining. The sunroom off the formal dining room is a warm, inviting place for quiet time. Within the updated kitchen you will find quartz countertops with a pot filler, new tile backsplash, quartz countertop and refinished original maple flooring. Step down into the lower level basement and you will find a SECOND KITCHEN AREA, theater room, large laundry room with full bath. Also lots of storage! Park-like setting back yard! Huge Corner lot w/ 4 additional off-street parking spots in addition to a large RV parking pad. Contact Alexis Foster at (970) 310-6999 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/131743492

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Summit View Beauty!

You found it! 93 Pike Lane is a fabulous home on a quiet cul-de-sac in Severance’s popular Summit View neighborhood! Built by high-quality Aspen Homes, this beauty features a large kitchen with wood floors, plenty of counter space and a wide-open view of the sprawling family room. Separate dining and living rooms with a high-vaulted ceiling. Find your bedrooms, including the large primary suite, laundry and a large loft on the second level. Relax or entertain on the brand-new patio in the fenced back yard. Full unfinished basement for future expansion and a large oversized 3-car garage. Newer roof and exterior paint. NO Metro District!! Wonderful home and great value! Contact Jon Holsten at (970) 237-2752 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/131752091

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Charming Bungalow!

528 E 7th Street is a lovely downtown bungalow with huge shop in Loveland. Updates include a fully remodeled kitchen with granite countertops with dark steel appliances, remodeled bathroom, lathe and plaster has been replaced with drywall, arched doorways added, new slider doors, and a full home water filtration system. The heated shop area is pretty amazing – with it’s alley access and 10×16 door, 13 ft ceilings, lift, separate side for storage or more work benches, 6in reinforced slab… this shop is going to make someone super happy. To the east of the garage is a fenced off parking area to store all the toys or projects. In addition there is also a 1-car garage, unfinished basement is great for storage, and there is a closet that seems like it would make an easy 2nd half bath in the future. There are a few projects left to do – such as the front porch, painting the outside of the shop, some repair to the outside of the garage. A huge attic space that could be turned into more living area. Contact Meagan Griesel at (970) 691-0056 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/132086454

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Colorado Bound

The 2020 Census confirms what we already know – Colorado is popular!

It turns out that many people have been Colorado-bound over the last 10 years.

Our state has grown by the equivalent of one Mile High Stadium’s-worth of people each year over the last 10 years.

Here are the numbers:

  • 2020 population is 5.77 million
  • 10-year population increase is 744,000
  • 10-year percentage increase is 14.8%
  • Colorado ranks 21st among all states for population
  • Only 5 states had a larger percentage increase over the last 10 years (Idaho, North Dakota, Nevada, Texas & Utah)

Only 8 states had a larger increase in population over the last 10 years (Arizona, California, Florida, Georgia, New York, North Carolina, Texas & Washington

The post Colorado Bound appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Colorado Bound

The 2020 Census confirms what we already know – Colorado is popular!

It turns out that many people have been Colorado-bound over the last 10 years.

Our state has grown by the equivalent of one Mile High Stadium’s-worth of people each year over the last 10 years.

Here are the numbers:

  • 2020 population is 5.77 million
  • 10-year population increase is 744,000
  • 10-year percentage increase is 14.8%
  • Colorado ranks 21st among all states for population
  • Only 5 states had a larger percentage increase over the last 10 years (Idaho, North Dakota, Nevada, Texas & Utah)

Only 8 states had a larger increase in population over the last 10 years (Arizona, California, Florida, Georgia, New York, North Carolina, Texas & Washington

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Q1 2021 Colorado Real Estate Market Update

The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere Real Estate agent.

REGIONAL ECONOMIC OVERVIEW

Following the decline in employment last winter, Colorado has started to add jobs back into its economy. The latest data shows that the state has now recovered more than 219,000 of the 376,000+ jobs that were lost due to COVID-19. This is certainly positive, but there is a long way to go to get back to pre-pandemic employment levels. Denver and Fort Collins continue to have the greatest improvement in employment, but all markets show job levels well below pre-pandemic levels. With total employment levels rising, the unemployment rate stands at 6.6%, down from the pandemic peak of 12.1%. Regionally, unemployment levels range from a low of 5.6% in Fort Collins and Boulder to a high of 6.7% in Greeley. COVID-19 infection rates have started to increase again, and this has the potential to negatively impact the job market. I am hopeful that the state will not be forced to pull back reopening, but this is certainly not assured.

COLORADO HOME SALES

❱ 2021 started off on a bit of a sour note, with total sales down 1.2% compared to the same period in 2020. Sales were 29.2% lower than in the final quarter of 2020 as 8,645 homes sold.

❱ Sales were higher in four of the counties contained in this report, were essentially flat in one, and dropped in seven. It was pleasing to see significant sales growth in the large counties of Denver and Adams.

❱ Another positive was that pending sales, which are an indicator of future closings, were 4.8% higher than in the fourth quarter of 2020 and 5% higher than a year ago.

❱ The disappointing number of home sales overall can primarily be attributed to the woeful lack of inventory. Listings in the quarter were down more than 61% year over year and were 40.6% lower than in the fourth quarter of 2020.

 

COLORADO HOME PRICES

❱ Prices continue to appreciate at a very rapid pace, with the average sale price up 16.5% year over year, to an average of $556,100. Home prices were also 4.4% higher than in the fourth quarter of 2020.

❱ Buyers appear to be out in force, and this demand—in concert with very low levels of inventory—continues to heat the market.

❱ Prices rose over last year across all markets covered by this report, with the exception of the very small Gilpin County. All other counties saw sizeable gains and the trend of double-digit price growth continued unabated.

❱ Affordability levels are becoming a greater concern as prices rise at a far faster pace than wages. Even though mortgage rates have started to rise, they haven’t yet reached the level needed to take some of the heat out of the market.

 

DAYS ON MARKET

❱ The average time it took to sell a home in the markets contained in this report dropped 20 days compared to the first quarter of 2020.

❱ The amount of time it took to sell a home dropped in every county contained in this report compared to the fourth quarter of 2020.

❱ It took an average of 25 days to sell a home in the region, down one day from the fourth quarter of 2020.

❱ The Colorado housing market remains very tight, as demonstrated by the fact that it took less than a month for homes to sell in all but two counties.

 

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

The relatively low level of home sales is not a surprise given how few choices there are for buyers. Sellers are certainly benefitting from strong demand, as demonstrated by the significant price growth. I maintain my belief that there will be an increase in inventory as we move through the year, but it is highly unlikely that we will see a balanced market in 2021.

Given these factors, I am moving the needle a little more in favor of sellers, as demand is likely to continue to exceed supply.

ABOUT MATTHEW GARDNER

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

 

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